You must have wondered sometimes: what if I sell my company? Maybe because you got an interesting offer or because it is time for something different. Selling your company not only has consequences for your company, your employees, customers and suppliers: but also for you as an entrepreneur. Are you ready to sell your company?
The lucky one
The moment you plan to sell your business, think of who you want to sell it to. Make a list of wishes someone should meet. Who do you think is the best investor? This way you have a good idea of how you want your company to look. There can be several candidates. By sketching an image for yourself in advance, you can make the selection smaller. Eventually you will find out in a conversation who best fits your wishes and requirements.
Check carefully whether your company is interesting for potential investors. Make a balance per department to see what goes well and what could be improved. Optimize the points for improvement so your business runs even better at the time of sale. Also look at the legal form of the company. Is it sellable as it is? Or dies it will sell better in a different form? Also consider your properties. Do you rent it or did you buy it? How do you include that in the sale?
What kind of sale?
You can sell your company in different way. There is the management buy-in, in which the company is wholly or partly taken over by an outsider. This is usually an experienced manager who is actively and operationally involved with the organisation. You can also consider a management buy-out. In this case, an employee or multiple employees take of the company, or a part of it. This can, for example, be a department of the company that that is no longer part of the core activities. Selling your business to a competitor or financial party is called a strategic acquisition. For the buyer, this is a way to enter a new market or to increase their market share.
After the sale
Prepare yourself for letting go of your business. You will no longer be the owner and may not even have control of the company. Do you still have certain liabilities? Or do you want to stay involved? These are questions that can be answered by asking yourself what you will do after selling your company. Are you picking up an old hobby, are you going to travel or are you going to work for an employer? Make clear what your finances are like after the sale. How much money do you sell your business for? What will your income be and what will you spend? By taking stock, you know exactly where you stand and you can sell the company with piece of mind.
Are you ready to sell your company? Read about it in this blog.